Municipal bonds are up in 2026. Professionals say you should buy them now. This is like getting a restaurant recommendation after everyone already ate there.
The pitch hinges on "generationally attractive yields." Generational means your grandfather could have bought these. He didn't. Now you get to.
Munis rallied. The yields dropped. The pros call this an opportunity. They'd call a house fire an opportunity to test your homeowner's insurance.
The entire thesis rests on locking in rates that were higher before the rally started. You know what else was generationally attractive? February. March. April. Every month you didn't buy.
But the professionals still see opportunities ahead. They see opportunities the way a car salesman sees opportunities when you walk onto the lot already holding your checkbook. The yields exist because the rally happened. The rally happened because people bought. Now they want you to buy what people already bought.
Retail investors will read this headline and think they discovered something. They didn't discover anything. They got a memo after the meeting ended.
Here's the technical setup: prices go up, yields go down, professionals tell you to buy, you buy, they collect fees, you hold bonds yielding less than they did three months ago. Generationally attractive meant something before the generation showed up.
The real opportunity was being a professional who told clients to buy munis in January and is now telling new clients the same thing in July at worse prices.
Bonds don't care about your feelings. They especially don't care that you finally noticed them after they already moved.
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